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Barkby Group PLC announced on 26 April 2022 that it unconditionally exchanged contracts to sell its site at Saffron Walden, Essex, for £3.45m. Completion of the sale has been agreed for 31st May 2022. The site has a current book value of £1m, and the transaction will result in a net profit of £2.3m for Barkby after disposal costs.
| Date | 26 Apr 2022 |
| Time | 07:00:14 |
| Category | Corporate updates |
| ID | 2826J |
26 April 2022
Barkby Group PLC
("Barkby" or the "Company")
Exchange of Contracts at Saffron Walden, Essex
Barkby Group PLC is pleased to announce it has unconditionally exchanged contracts to sell its site at Saffron Walden for £3.45m. Barkby currently has a book value of £1m for the site, the sale will result in a net profit of £2.3m for Barkby after disposal costs.
Completion has been agreed for 31st May 2022.
Charles Dickson, Executive Chairman of Barkby Group Plc, commented:
"I am delighted to have exchanged contracts for the sale of the site. Barkby has added significant value to the site through a series of successful planning applications which has resulted in a significant profit for shareholders."
Enquiries:
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Barkby Group plc Charles Dickson (Executive Chairman) Douglas Benzie (CFO)
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via Camarco |
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finnCap Ltd (Nomad and Broker) Carl Holmes/Simon Hicks (corporate finance) Tim Redfern/Richard Chambers (ECM)
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+44 (0) 20 7220 0500 |
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Camarco (Financial PR) Jennifer Renwick/Phoebe Pugh |
+44 (0) 20 3757 4994 |
About The Barkby Group Plc:
Barkby Group PLC is a diversified group of high growth, high quality businesses run by an entrepreneurial and experienced management team. The existing wholly owned businesses units within Barkby include: Barkby Real Estate, Barkby Pub Co. and Barkby Investments (comprising of Workshop Coffee, Centurian Automotive, Cambridge Sleep Sciences and a minority stake in Verso Biosense).
Barkby's strategy is to accelerate and maximise opportunities within its existing businesses.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.